DreamWorks Animation SKG Earnings: Here’s Why the Stock is Down Now
DreamWorks Animation SKG Inc. (NASDAQ:DWA) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.47%.
DreamWorks Animation SKG Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.98 in the quarter versus EPS of $0.29 in the year-earlier quarter.
Revenue: Rose 20.88% to $264.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: DreamWorks Animation SKG Inc. reported adjusted EPS loss of $0.98 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It beat the average revenue estimate of $216.04 million.
Quoting Management: “While Rise of the Guardians did not achieve the level of box office success that we have come to expect from a DreamWorks Animation film, we have made several changes to our future slate that we believe will position us well for the next two years,” said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. “We are now looking ahead to our next release – and our first under our new distribution agreement with Twentieth Century Fox – The Croods on March 22, 2013.”
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